Virtual Reality in Gaming Market by User (Commercial Space and Individual), Component (Hardware and Software), Connecting Device, and Region - Global Industry Analysis, Opportunities and Forecast up to 2029

Virtual Reality in Gaming Market Size

The global Virtual Reality in Gaming market size was valued at $14.40 billion in 2023 and is projected to reach $69.47 billion by 2029, growing at a CAGR of 30.0% during the forecast period. 

Virtual Reality in Gaming Market Dynamics

• The virtual reality in gaming market is expected to witness significant growth in the future due to the growing awareness of state-of-the-art VR accessories and the advent of cloud gaming technology. 

• Additionally, growing advancement in the development of virtual reality peripherals and increasing demand for VR gaming amid the pandemic are the prominent factors driving the growth of the virtual reality in gaming market demand.

• However, the adverse effect on health is restraining the market growth.

• On the contrary, growing R&D activities to launch technologically advanced products are creating opportunities for market growth.

Virtual Reality in Gaming Market Overview

Virtual reality alludes to an application structure that is intended to give a three-layered gaming experience by utilizing a three-layered virtual or counterfeit climate. Utilizing these frameworks upgrades the look and feel of the climate during a game. The Virtual reality programming controls and establishes a fake climate. The capacity to give a high-level and remarkable gaming experience has expanded the interest in virtual reality in the gaming industry.

By Component, the Hardware Segment is projected to be the largest Segment in the Virtual Reality in Gaming Market

The hardware segment is estimated to witness a significant growth rate in the foreseeable future and is anticipated to rule the market as far as income during the forecast period. The hardware incorporates gadgets, for example, gloves, bodysuits, consoles, head-mounted devices, controllers, keyboards, headphones, and others. The climb in income is essentially inferable from the interest and deals of VR-based equipment in the gaming business. Vital participants in the market are centered on the improvement of cutting-edge equipment-based innovation for gaming. With the improvement of cutting-edge equipment, the market development is relied upon to support during the estimated time frame.

By Geography, North America Region Holds the Dominant Position in the Market Revenue

North America is projected to be the largest region in the virtual reality in gaming market owing to the advent of core technology such as virtual reality, augmented reality, 5G, 3D audio, advanced graphics, and others. In addition, the market growth is propelled by the existence of major players such as Google LLC, Electronic Arts, Inc., Leap Motion, Inc., Microsoft Corporation, Facebook Technologies, LLC, and others in the region. The players in this region are focused on investing in the development of advanced hardware and software.

Some of the Key Players Profiled in the Report Include: 

• Apple Inc
• Facebook LLC
• Google VR
• HTC Corporation
• Magic Leap, Inc
• Microsoft Corporation 
• Nvidia Corporation
• Samsung Electronics Co., Ltd
• Sony Corporation 
• Ubisoft Entertainment SA 
• Unity Technologies

What Can be Explored with this Research Report?

• Understand the key trends that will drive the market and the challenges it faces in the current market scenario.
• Identify growth opportunities.
• Porter’s five force analysis.
• In-depth analysis of market segments, and regions/countries predicted to observe promising growth.
• Historical and forecast size of the market in terms of revenue (USD Million).
• Company profiling with key products and solution offerings, key financial information, SWOT analysis, and business strategies adopted.

Market Segmentation:

The research report includes in-depth coverage of the industry analysis with size, share, and forecast for the below segments:

Market by, User:
• Commercial Space
• Individual

Market by, Component:
• Hardware
• Software

Market by, Connecting Device:
• Desktop
• Gaming Console
• Smartphone

Market by, Geography:

The Virtual Reality in Gaming Market report also analyzes the major geographic regions and countries for the market. The regions and countries covered in the study include:

• North America (The United States, Canada, Mexico), Market Estimates, Forecast & Opportunity Analysis
• Europe (Germany, France, UK, Italy, Spain, Rest of Europe), Market Estimates, Forecast & Opportunity Analysis
• Asia Pacific (China, Japan, India, South Korea, Australia, New Zealand, Rest of Asia Pacific), Market Estimates, Forecast & Opportunity Analysis
• South America (Brazil, Argentina, Chile, Rest of South America), Market Estimates, Forecast & Opportunity Analysis
• Middle East & Africa (UAE, Saudi Arabia, Qatar, Iran, South Africa, Rest of Middle East & Africa), Market Estimates, Forecast & Opportunity Analysis. 

Table Of Content

1 Market Overview                 
    1.1 Introduction             
    1.2 Research Objectives            
    1.3 Market Segmentation            
    1.4 Stakeholders             
    1.5 List of Acronyms             
                   
2 Executive Summary                 
                   
3 Research Methodology                
    3.1 Identification of Data            
    3.2 Evaluation of Market Dynamics           
    3.3 Collaboration of Data            
    3.4 Verification and Analysis            
    3.5 Data Sources             
    3.6 Assumptions             
                   
4 Market Dynamics                 
    4.1 Market Drivers             
           4.1.1 Growing Awareness of State-of-the-art VR Accessories  
           4.1.2 Advent of Cloud Gaming Technology    
    4.2 Market Restraints             
           4.2.1 Adverse Effects on Health      
    4.3 Market Opportunities            
           4.3.1 Growing Advancement in the Development of Virtual Reality Peripherals
    4.4 Market Challenges             
           4.4.1 Complexity in Technology     
    4.5 Impact of COVID-19 on Virtual Reality in Gaming Market         
                   
5 Porter's Five Force Analysis                
    5.1 Bargaining Power of Suppliers            
    5.2 Bargaining Power of Buyers            
    5.3 Threat of New Entrants            
    5.4 Threat of Substitutes            
    5.5 Competitive Rivalry in the Market           
                   
6 Global Virtual Reality in Gaming Market by, User              
    6.1 Overview             
    6.2 Commercial Space             
    6.3 Individual             
                   
7 Global Virtual Reality in Gaming Market by, Component             
    7.1 Overview              
    7.2 Hardware             
    7.3 Software              
                   
8 Global Virtual Reality in Gaming Market by, Connecting Device            
    8.1 Overview             
    8.2 Desktop              
    8.3 Gaming Console             
    8.4 Smartphone             
                   
9 Global Virtual Reality in Gaming Market by, Geography             
    9.1 Overview             
    9.2 North America             
             9.2.1 US     
             9.2.2 Canada     
             9.2.3 Mexico     
    9.3 Europe              
             9.3.1 Germany     
             9.3.2 France     
             9.3.3 UK     
             9.3.4 Italy     
             9.3.5 Spain     
             9.3.6 Rest of Europe    
    9.4 Asia Pacific             
             9.4.1 China     
             9.4.2 Japan     
             9.4.3 India     
             9.4.4 South Korea    
             9.4.5 Australia     
             9.4.6 New Zealand    
             9.4.7 Rest of Asia Pacific    
    9.5 South America             
             9.5.1 Brazil     
             9.5.2 Argentina    
             9.5.3 Chile     
             9.5.4 Rest of South America   
    9.6 Middle East & Africa            
             9.6.1 UAE     
             9.6.2 Saudi Arabia    
             9.6.3 Qatar     
             9.6.4 Iran     
             9.6.5 South Africa    
             9.6.6 Rest of Middle East & Africa   
                   
10 Key Developments                 
                   
11 Company Profiling                 
    11.1 Apple Inc              
             11.1.1 Business Overview    
             11.1.2 Product/Service Offering   
             11.1.3 Financial Overview    
             11.1.4 SWOT Analysis    
             11.1.5 Key Activities    
    11.2 Facebook LLC             
    11.3 Google VR             
    11.4 HTC Corporation             
    11.5 Magic Leap, Inc             
    11.6 Microsoft Corporation             
    11.7 Nvidia Corporation             
    11.8 Samsung Electronics Co., Ltd            
    11.9 Sony Corporation              
    11.10 Ubisoft Entertainment SA             
    11.11 Unity Technologies